AUDUSD Weekly Analysis – August 21, 2016

AUDUSD stays above the upward trend line on daily chart and remains in uptrend from 0.7144. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.8000 area. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 0.7755 already, then the following downward movement could bring price to 0.6900 zone.